City Moves for 10 June 2015 | Who’s switching jobs June 9, 2015 Lloyds Bank Commercial Banking Adrian White has been appointed chief operating officer, commercial banking at the bank. He was previously managing director and head of SME banking. White has over 30 years’ experience in the banking industry. Rothschild Peter Hindle has been appointed director in Rothschild’s wealth management business. He joins from Credit Suisse, where [...]
Best of the Brokers for 10 June 2015 June 9, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com WH SMITH RBC Capital Markets has raised its price target to 1750p from 1600p and retained an “outperform” rating based on the growing prospects of its travel arm. The broker said it expects the travel business to generate at least 63 per cent [...]
HSBC’s turnaround plan and mining stocks hit FTSE 100 – London Report June 9, 2015 BRITAIN’S top shares fell yesterday as a new turnaround plan from Europe’s biggest bank, HSBC, failed to impress markets. HSBC took the most points off the blue-chip FTSE 100 index. Its shares closed down 0.9 per cent after investors and analysts questioned whether its pledge to shed almost 50,000 jobs would be enough to lift [...]
Financials lift the S&P 500 – New York Report June 9, 2015 US STOCKS ended flat yesterday though the S&P 500 snapped three days of losses as financial and consumer staples shares bounced. Shares of biotech companies were among the biggest drags, including Biogen, down 1.1 per cent at $382. The Nasdaq Biotech Index was down 0.7 per cent. The S&P financials were up 0.3 per cent, [...]
Where to find the best value cash accounts: They won’t trump equities, but zero inflation makes them more attractive June 9, 2015 The UK is a nation of cash savers, with half of Britain’s collective wealth sitting in instant access accounts. Inflation may stand below zero at present (it was -0.1 per cent in April), making cash a reasonably attractive option, but it will not stay there forever. Indeed, research released earlier this week by Henderson [...]
George Osborne should prioritise taxpayer value over a rapid RBS privatisation June 9, 2015 Almost seven years on from the £46bn taxpayer bailout of RBS, it may seem perverse to ask “why the rush?” when it comes to selling our 79 per cent stake in the still-ailing bank. But this is precisely the question that must be posed if, as anticipated, George Osborne sets out at the Mansion House [...]
Robust yet fragile: Why the financial system has the same qualities as cancer June 9, 2015 Massive fines for banks, gross misbehaviour, huge bonuses for failure, bailouts at vast expense to the taxpayer: it’s little wonder that politicians and pundits can almost invariably win cheap applause by describing the financial system as being a cancer on society. But in a deep way, cancer and the financial system do have much in [...]
Electoral loss for Turkey’s authoritarian President Recep Tayyip Erdogan is good news for markets June 9, 2015 The one thing Sunday’s game-changing election result in Turkey has definitely given us is uncertainty. But while markets initially reacted with dismay after the incumbent Justice and Development Party’s (AKP) 13 years of solid majorities came to an end, in the longer term, they may wonder if uncertainty is that much worse than the alternative [...]
As Zac Goldsmith plans to run for London mayor, can the Conservatives win again in a Labour city? June 9, 2015 Tom Mludzinski, head of political polling at ComRes, says Yes Whoever is the next Tory candidate faces an Everest-sized task. But Everest has been conquered, and so can London. Boris Johnson is a special politician and winning twice in London as a Conservative is a big achievement. His success was, of course, partly down to [...]
How to find success after a setback June 9, 2015 Make the most of your network and remember to take time out. Every high performer experiences painful setbacks during their career. While unwelcome and distressing, the big question is how you deal with them. Will you recover or fold? Recovery is not just about trying again, but bolstering your skills to become more resilient [...]
